US Antifungal Drugs Market Analysis

US Antifungal Drugs Market Analysis


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US Antifungal Drugs Market is at around $6.64 Bn in 2023 and is projected to reach $7.52 Bn in 2030, exhibiting a CAGR of 1.8% during the forecast period. The market is being driven by rising rates of fungal infections, improvements in drug development, and increase in antifungal resistance. The market is dominated by key players like Pfizer Inc., Merck & Co., Inc., Astellas Pharma Inc., Abbott Laboratories, GlaxoSmithKline plc, Bayer AG, Novartis AG, Glenmark Pharmaceuticals Limited, Sanofi, and Enzon Pharmaceuticals, Inc.

ID: IN10USPH004 CATEGORY: Pharmaceuticals GEOGRAPHY: US AUTHOR: Aneri Parekh

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US Antifungal Drugs Market Executive Summary

US Antifungal Drugs Market is at around $6.64 Bn in 2023 and is projected to reach $7.52 Bn in 2030, exhibiting a CAGR of 1.8% during the forecast period.

The creation, manufacturing, and distribution of pharmaceuticals intended to eradicate fungal pathogens with the least amount of host toxicity is the industry that makes up the US Antifungal Drugs market. These medications address a range of fungal infections, and there are several kinds of antifungal medicines on the market, including azoles and polyenes. Drug resistance, the need for a wider range of antifungals to treat different fungal diseases, and the need for quicker and more potent medications are some of the factors affecting the market.

The growing prevalence of fungal diseases, technology breakthroughs, and the adoption of economical and effective manufacturing techniques have driven a revolutionary transformation in this industry.is fueling the steady rise of the US antifungal drug market. To expand the market, major players are focusing on research and development for novel therapies. Improvements in healthcare infrastructure and growing public knowledge of fungal infections contribute to the market's upward trend.

The market for antifungal drugs has grown at an impressive rate in recent years, and in 2023 it was valued at $15.8 Bn globally. Advances in treatment efficacy and accessibility have led to a significant change in the antifungal pharmaceutical landscape. Furthermore, the market for antifungal medications has seen significant investments, which have been crucial in promoting the industry's upward growth trajectory. This industry's ability to innovate, produce goods with greater efficiency, and enhance its finances highlights how dynamic and promising the antifungal drugs market is.

Amplyx Pharmaceuticals was acquired by Pfizer in 2021. Pfizer now has access to fosmanogepix, the principal antifungal medication candidate developed by Amplyx, which is undergoing Phase 2 clinical trials. With its distinct mode of action, fosmanogepix may be able to overcome some of the drawbacks of the antifungal medications that are now on the market. Pfizer is also creating its line of antifungal medications. Although these medications are still in the early phases of research and development, they may be able to fill gaps in the antifungal market's medical demands.

US anti-fungal drugs market

Market Dynamics

Market Growth Drivers:

Growing Prevalence of Fungal Infections: There is a growing need for antifungal medications as the number of fungal infections increases. Fungal diseases result in about 75,000 hospital admissions and almost 9 Mn outpatient visits annually in the US.

Developments in Drug Discovery: The pharmaceutical industry's ongoing research and development initiatives result in the release of novel, more potent antifungal medications. Market expansion is fueled by advancements in medication formulations, delivery systems, and therapy modalities.

Antifungal Resistance: New medications or combination therapies that can successfully combat resistant strains of the disease are being developed in response to the alarming growth of antifungal resistance. This spurs market growth and innovation.

Market Restraints:

High Treatment Costs: Certain patient populations may not be able to afford antifungal drugs, which could restrict their access to treatment and thus hamper the growth of the market.

Side Effects and Toxicity: Antifungal medications can occasionally have negative side effects and toxicity, which can force patients to stop taking them altogether.

Stringent Regulations: Getting regulatory approval for new antifungal medications can be a time-consuming and expensive procedure as the regulatory environment for drug approval and market entry is stringent.

Notable Recent Updates

  • October 2023, the US Food and Drug Administration (FDA) permitted Lupin Ltd. to start selling its generic Fluconazole tablets, which are used to treat fungal infections

Healthcare Policies and Regulatory Landscape

The regulatory body in charge of overseeing pharmaceuticals in the US is the Food and Drug Administration (FDA). The FDA ensures that new drugs are safe and effective by evaluating and approving them. Pre-clinical, clinical, and FDA review are the three primary phases of the development process for new therapeutic drugs and biologics. The process of obtaining a license for a pharmaceutical involves several difficulties, including stringent rules, costly and time-consuming development schedules, and difficulties with clinical trials.

Competitive Landscape             

Key Players:

  • Pfizer Inc.
  • Merck & Co., Inc.
  • Astellas Pharma Inc.
  • Abbott Laboratories
  • GlaxoSmithKline plc
  • Bayer AG
  • Novartis AG
  • Glenmark Pharmaceuticals Limited
  • Sanofi
  • Enzon Pharmaceuticals, Inc.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

US Antifungal Drugs Market Segmentation

By Drug Class

  • Azoles
  • Echinocandins
  • Polyenes
  • Allylamines
  • Others

By Drug Indication

  • Dermatophytosis
  • Aspergillosis
  • Candidiasis
  • Others

By Drug Dosage

  • Oral drugs
  • Ointments
  • Powders
  • Others

By Infection

  • Systemic Antifungal Infections
  • Superficial Antifungal Infections

By Drug Distribution

  • Hospital Pharmacies
  • Retail Pharmacies
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 28 February 2024
Updated by: Vidhi Upadhyay

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